Dreamscape Networks cash advance approved to grow company

Company News

by Jessica Amir

Web hosting company, Dreamscape Networks (ASX:DN8) has had a $20 million three-year cash advance approved, which will enable it to grow in Australia and Singapore

The facility was approved by a major Australian bank and will help the company make further cash flow positive and earnings accretive acquisitions.

The business says the cash advance will also allow it to make its balance sheet work harder for shareholders.

Dreamscape Networks says having successfully purchased and integrated Net Logistics (Sydney) and Vodien Group (Singapore) it’s in a strong position for further growth.

Shares in Dreamscape Networks (ASX:DN8) are trading 2.38 per cent higher at 21.5 cents.

Jessica Amir

Finance News Network
Jessica is a senior finance journalist and presents bulletins including the Market Outlook, Market at Midday and Market Wrap. She also interviews ASX CEOs and leading fund managers. She joined FNN in January 2017 with over six years of broadcast journalism experience including with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked in financial planning for over six years with leading wealth managers and in real estate.